State Street Corp Buys 63,271 Shares of TerraForm Power, Inc. (TERP)

State Street Corp increased its stake in TerraForm Power, Inc. (NASDAQ:TERP) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,602,705 shares of the solar energy provider’s stock after buying an additional 63,271 shares during the period. State Street Corp owned 1.29% of TerraForm Power worth $19,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TERP. Vanguard Group Inc. grew its stake in shares of TerraForm Power by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 7,197,682 shares of the solar energy provider’s stock worth $89,036,000 after buying an additional 826,219 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of TerraForm Power by 7.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock worth $21,178,000 after buying an additional 120,329 shares during the last quarter. Alpine Woods Capital Investors LLC grew its stake in shares of TerraForm Power by 10.4% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 1,195,600 shares of the solar energy provider’s stock worth $14,347,000 after buying an additional 112,600 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of TerraForm Power by 10.4% in the 1st quarter. Geode Capital Management LLC now owns 650,708 shares of the solar energy provider’s stock worth $8,049,000 after buying an additional 61,491 shares during the last quarter. Finally, AHL Partners LLP purchased a new stake in shares of TerraForm Power in the 2nd quarter worth approximately $411,000. Institutional investors own 54.49% of the company’s stock.

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TERP has been the topic of several recent research reports. BidaskClub upgraded TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, July 28th. TheStreet upgraded TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. Robert W. Baird restated a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research note on Sunday, September 3rd. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $13.00 price target on shares of TerraForm Power in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. TerraForm Power presently has an average rating of “Hold” and an average price target of $13.70.

In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $12.95, for a total value of $8,093,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 34.55% of the company’s stock.

TerraForm Power, Inc. (NASDAQ:TERP) opened at $12.64 on Friday. TerraForm Power, Inc. has a 12-month low of $10.99 and a 12-month high of $14.50. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84.

TerraForm Power (NASDAQ:TERP) last released its quarterly earnings data on Thursday, November 9th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The business had revenue of $153.43 million during the quarter, compared to the consensus estimate of $152.18 million. TerraForm Power had a negative net margin of 21.83% and a negative return on equity of 5.87%. equities analysts predict that TerraForm Power, Inc. will post -1.02 EPS for the current year.

About TerraForm Power

TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.

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Institutional Ownership by Quarter for TerraForm Power (NASDAQ:TERP)

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